Post
Topic
Board Economics
Re: Bitcoin Price Drop
by
lemonginger
on 03/08/2011, 21:21:45 UTC
#1) Many more bitcoins will be in the hands of non-ASIC miners.

Completely irrelevant. The market price is what someone - anyone - sells at. We already know not all mined coins are being sold.


Correct, so even if your mythical ASIC miners are willing to sell at $2 a bitcoin, doesn't mean anyone else will be. Mining technology only affects mining profitability not bitcoin price! Not sure why you think you have proved otherwise. Did the price crash when ppl started using GPUs?